HDFC MF retains top spot across fund houses in average AUM

Mumbai: HDFC Mutual Fund has retained its top position across fund houses in the December quarter with respect to total assets managed as per data released by the Association of Mutual Funds in India (AMFI) on Monday.

Liquid funds were the biggest drag on industry assets, with the category falling 5.25 percent, or Rs 150.25 billion, to Rs 2.71 trillion. The category witnessed 17 percent rise in assets in 2014.

Assets of fixed maturity plans (FMPs) fell for the second consecutive quarter, down 4.29 percent, or Rs 70.85 billion, to Rs 1.58 trillion.

Gold exchange traded funds (ETFs) continued the downtrend as the category marked its fifth consecutive quarterly fall. The category's AUM fell 6.76 percent, or Rs 5.21 billion, to Rs 71.78 billion. This is due to persistent outflows despite a marginal rise in price of underlying assets during the quarter.

Average AUM of direct plans rose 4.14 percent, or Rs 146.19 billion, to Rs 3.68 trillion at the end of 2014.

The share of direct plans, however, remained steady at 33 percent of the industry's AUM (excluding fund of funds) in the reported quarter compared with the previous quarter but was higher compared with 30 percent in the year-ago quarter, the release said.